Will Ubuntu 11.04 work on my old computer?

Hello! I am using a Compaq Presario 5000 running Windows XP home edition sp3. I have (I am just going to copy and past my info) an "Intel Pentium 4 CPU 1.80GHz 1.79GHz, 512 MB of RAM". So, my question is, will my aging dinosaur run anew with life from Ubuntu 11.04 (preferably), or 10.04? How would i go about doing so? I have a medium-highknowledge of computer function, so i will usually understand the instructions. Thank you in advance!